Bank Innovation
FEBRUARY 12, 2018
Mobile banking has officially gone mainstream: 55% of U.S. adults have at least one full-service banking app on their phones now, according to a study conducted by BankRate. Additionally, those consumers with bank apps are active users, with 70% stating that they use their app at least once a week, the survey of 1,156 adults […].
Chris Skinner
FEBRUARY 12, 2018
I was looking around at what’s new online, and just discovered the Hiscox 2018 Cyber Readiness Report. This is the second Hiscox Cyber Readiness Report, conducted by Forrester Consulting, and puts the spotlight not only on the financial consequences of individual cyber breaches but also on the enormous cost in … The post Most companies are unprepared for a cyberattack appeared first on Chris Skinner's blog.
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Bank Innovation
FEBRUARY 12, 2018
EXCLUSIVE – What’s a bank to do when it’s core market is somewhere else and it’s trying to establish itself as a major player in a market already dominated by a set of major banks? The answer, at least to Barclaycard, is co-branding. Based in the U.K., Barclays is one of the major banks in Europe. […].
Chris Skinner
FEBRUARY 12, 2018
Things we’re reading today include … Why is Australia investigating its banks? Starling Bank announces partnerships with mortgage broker, investment and pensions firms and insurer in open banking push City watchdogs tell algorithmic traders to clean up act Are Barclays’ branches at risk over $3bn Qatar loan? | Larry Elliott … The post Things worth reading: 13th February 2018 appeared first on Chris Skinner's blog.
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
Bank Innovation
FEBRUARY 12, 2018
U.K. challenger bank Monzo is in early talks with regulators about acquiring a license for possible expansion to the United States, the company said. Monzo is still in the “very, very early stages” of these talks, for a launch that is not set for the immediate future, according to bank CEO Tom Blomfield. Blomfield told […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
FEBRUARY 12, 2018
Citigroup is setting up an innovation lab in London. The decision to set up this lab comes at the heels of U.K.’s preparation for Brexit, not to mention the new PSD2 regulation that went live some weeks earlier. Citigroup’s lab will employ 75 tech experts. It will be located in one of WeWork’s shared workspaces […].
PYMNTS
FEBRUARY 12, 2018
In a world where we’re bombarded daily — even hourly — by data points on everything from stock prices and market cap to retail sales and consumer spending to cryptocurrency’s ups and downs to the impact of innovation on the future of payments, commerce and financial services, we’re all just flying blind when it comes to the things that really matter to businesses and consumers.
Bank Innovation
FEBRUARY 12, 2018
Visa has acquired software-as-a-service company Fraedom for £142 million ($200 million). The London.-based Fraedom provides expense management solutions for financial service companies. Visa’s acquisition comes after a decade of partnership between the two companies, Visa said in a release. The acquisition will allow Visa to expand its business product suite for B2B payments, according to […].
PYMNTS
FEBRUARY 12, 2018
As Amazon gears up to compete with rivals in Brazil, the eCommerce retailer is reportedly seeking to lease a 50,000-square-meter warehouse near São Paulo. The potential investment indicates that Amazon may soon distribute electronics and other goods sold on its Brazilian website, Reuters reported. Currently, third parties ship their own goods sold on Amazon’s marketplace in Brazil.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
Bank Innovation
FEBRUARY 12, 2018
EXCLUSIVE – Shari Van Cleave, who manages Wells Fargo’s Digital Labs, has joined the speaker faculty for Bank Innovation 2018 Bank Innovation 2018 will take place March 5-6 in San Francisco. Within Wells Fargo’s Digital Labs, Van Cleave manages a team of technology leaders to pilot various endeavors in consumer banking. Prior to this, Van […].
PYMNTS
FEBRUARY 12, 2018
Supply chain managers are less than impressed with the current solutions in place for cost analysis. New research from the Association for Supply Chain Management (APICS) and the Institute of Management Accountants (IMA) finds these professionals are struggling to grasp the insight they need into how much their companies spend on goods and services.
Bobsguide
FEBRUARY 12, 2018
The second installment of our ‘fintechs to watch’ series looks at the exciting world of newcomer fintechs since 2015. These are the companies we’ve come across (and spoken to!) who we think have a fantastic product and proposition as well as the right people and passion to.
PYMNTS
FEBRUARY 12, 2018
For nearly three decades, customers of McDonald’s have been able to buy burgers, fries and chance to play an in-house game of McDonald’s Monopoly. By collecting playing pieces earned through purchases, customers can get a tasty meal — and maybe win something along the way. But McDonald’s doesn’t rest on its laurels; it has to continually adapt the game to changing consumer tastes.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
Bobsguide
FEBRUARY 12, 2018
After an 18 month hiatus, bobsguide’s Fintalk podcast has relaunched, kicking off with this month’s webinar The asset management landscape post-MiFID II implementation: So what happens now? In this episode bobsguide is joined by Eduard Claassen, Project.
PYMNTS
FEBRUARY 12, 2018
Ending poverty, fighting cancer, and bringing women into tech fields: all in a day’s work, along with simpler pleasures like reading a book with one’s child each night or adopting a pet from a shelter. These are the sorts of everyday extraordinary experiences Mastercard says it wants to promote with its “Start Something Priceless” campaign — a campaign which launched Jan. 18 and which last week extended its reach into Pebble Beach Resorts as Mastercard was announced as the resorts’ Official Paym
Payments Source
FEBRUARY 12, 2018
As an industry, we owe it to our customers and end users to deliver banking and payments that function in real-time and meet their expectations, writes Paul Kobos, senior vice president of banking & payments for Gemalto.
PYMNTS
FEBRUARY 12, 2018
ANZ, one of Australia’s largest banks, is set to doll out nearly $8 billion in refunds to small business customers using the FI’s commercial card products. Reports in Dynamic Business on Friday (Feb. 9) said the refunds will be paid out across 52,000 credit card accounts held by business customers as a result of failure to disclose fees and interest charges.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
Payments Source
FEBRUARY 12, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Automation emerges for school payments; European banks back guide for open banking; Razer halts gaming bonus program; NCR intros new ATMs in India.
PYMNTS
FEBRUARY 12, 2018
WeTravel launched in 2016 as a payment platform to help enterprising travelers and small travel companies collect money when they organize their own travel itineraries for friends or other groups. Now, the company is expanding with fresh seed funding. According to TechCrunch reports from Friday (Feb. 9), WeTravel closed a $2 million seed funding round from The House Fund and former TubeMogul chief executive Brett Wilson; 500 Startups, Amino Capital and the First Round Capital Dorm Room Fund, as
Payments Source
FEBRUARY 12, 2018
U.K. consumer spending had its first January decline in five years last month, dealing another blow to the hopes of retailers after an inflation squeeze sapped demand in 2017.
PYMNTS
FEBRUARY 12, 2018
Following an announcement from an Italian cryptocurrency exchange that $200 million worth of virtual currency was stolen from its servers, investors and developers are taking in the news with skepticism, RT stated. BitGrail reported that 17 million Nano coins have been stolen through unauthorized transfers. With a value of above $11 a token, the stolen amount would be worth around $200 million.
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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.
NCR
FEBRUARY 12, 2018
Open banking is appearing in many countries, with the biggest adoption happening in Europe as a result of the EU’s Payment Services Directive 2 (PSD2). But with it comes a range of concerns that the opening up of banking data to third-party providers will leave traditional banks vulnerable to faster-moving, innovative new competitors. But this may not necessarily be the case.
PYMNTS
FEBRUARY 12, 2018
Amazon is reducing its headcount at its corporate office in Seattle, with the eCommerce giant reportedly laying off several hundred employees in what is seen as a rare move by the company. According to news from The Seattle Times , in addition to the several hundred being laid off at its Seattle headquarters, hundreds more are being let go at the company’s global operations.
Payments Source
FEBRUARY 12, 2018
Bitcoin extended a rebound on Monday as the regulatory concerns that have plagued digital currencies this year showed signs of subsiding.
PYMNTS
FEBRUARY 12, 2018
Can the business model that’s kept the wheels of retail payments and commerce moving for the last six decades turn the whole notion of SMB trade finance on its head? Formerly a managing director at Goldman Sachs, Paul Christensen, now co-founder of Previse , told Karen Webster that he’s convinced it will. That retail payments credit card model – and how it works – is well-understood.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
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